Pyay has just opened its doors for tourists, so there aren't many hotels yet. We stayed at Myat Guesthouse for 4 US$ pp including breakfast. It was a very nice, clean and friendly hotel. They can arrange everything for you (bustickets, taxi etc..) Pyay hotel is an old government run hotel. It doesn't look nice. Only tour groups arrive here. Prices around 10 US$. The restaurant looked nice though.